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BUS202 Business Planning Assessment Brief Assessment 1: Market Analysis (Individual) Submission Deadline: Week 4; Weightage: 30% This assessment is to be completed individually. In cases where it is suspected that a student has plagiarized content from another student or any other source without proper referencing, the Institute's Student Academic Integrity and Honesty Misconduct Policy will be enforced. Your assignment must be submitted electronically via Turnitin on the Unit Moodle site. Late submissions, without an approved extension, will incur penalties. Please refer to the Unit outline for further details on late penalties. Task: Critical Analysis of a Real-world Market Analysis Case Study (800 words) In this assessment, you are required to critically analyze a given real-world business case study related to Market Analysis. Your analysis should encompass both quantitative and qualitative aspects of the market, such as market size (volume and value), customer segments, competition (utilizing Porter's Five Forces Model), and the economic, social, and cultural environment with regard to entry barriers, regulations, and ethical considerations. To support your analysis, apply relevant theoretical frameworks and concepts acquired through textbooks, readings, discussions, and lectures. Ensure proper citation and referencing in APA style for all sources of information. Total Marks: 30 - Refer to the marking rubrics for detailed grading criteria Page 1 of 3 CASE STUDY FOR ASSESSMENT 01 BUS202: BUSINESS PLANNING Page 2 of 3 Page 3 of 3 REFERENCE: Business Victoria (2019), From kitchen table to small business. [Online]; Accessed on 30 March 2021, Available at: https://www.business.vic.gov.au/case- studies/from-kitchen-table-to-small-business https://www.business.vic.gov.au/case-studies/from-kitchen-table-to-small-business https://www.business.vic.gov.au/case-studies/from-kitchen-table-to-small-business

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P · Accepted Answer

Market analysis in launching a Baby Bib Business
Introduction:
The baby product market has a huge demand in the consumer goods industry with the continuous demand in making the essential items for infants and toddlers. From the Grand View Research 2020, the market size of these products accounted for nearly USD 11.2 billion and it was estimated that the market size grows up to USD 16.78 billion by 2027 (Grand view Research, 2021).From the  recent market research reports, there is a continuous rise in the need for global baby products contributed by various factors such as rise in the birth rates, income levels and increased awareness among the people about the child health and hygiene (Smith, 2023). At present various products such as feeding accessories, apparel, hygiene products, protective environment etc. are some which are being used in the products. This rising industry not only meet the consumer needs but also increase industrial opportunities.
Baby bibs is one of the most fundamental products in the market in which the products are designed to protect the infants during feeding to prevent the mess. Categorization based on the parenting styles, sustainability will help for the identification of the consumer preferences (Fill, 2011). In this market, the most targeted customers are parents, care givers and gift givers who focus on the infants feeding needs.  Johnston & Wong (2019) from their research studies confirmed that Demographic factors such as age, income and the changing lifestyle habits have huge impact on both the purchasing behaviour and the brand preferences (Johnston & Wong, 2019).
Competitive Analysis:
The competitive analysis in this baby product market is influenced by various factors such as rivalry of the various numerous players, small scale entrepreneurs as well.

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